Stratasys (NASDAQ:SSYS) Price Target Lowered to $13.00 at Needham & Company LLC

Key Points

• Needham & Company LLC has lowered the price target for Stratasys (NASDAQ:SSYS) from $15.00 to $13.00, maintaining a "buy" rating, which indicates a potential upside of 34.74% from its previous close.
• Stratasys shares fell 15.1% on Wednesday, trading at $9.65, with a one-year low of $6.05 and a high of $12.88.
• Institutional ownership of Stratasys is strong, with approximately 75.77% of the stock held by institutional investors, reflecting significant confidence in the company's future.

Stratasys (NASDAQ:SSYS - Get Free Report) had its target price lowered by equities researchers at Needham & Company LLC from $15.00 to $13.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Needham & Company LLC's target price suggests a potential upside of 34.74% from the stock's previous close.

Separately, Wall Street Zen raised shares of Stratasys from a "hold" rating to a "buy" rating in a report on Saturday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $12.20.

Stratasys Stock Down 15.1%

Shares of Stratasys stock traded down $1.72 on Wednesday, hitting $9.65. The stock had a trading volume of 2,191,648 shares, compared to its average volume of 527,329. Stratasys has a one year low of $6.05 and a one year high of $12.88. The stock has a market cap of $819.31 million, a price-to-earnings ratio of -6.42 and a beta of 1.57. The stock's 50-day simple moving average is $10.97 and its two-hundred day simple moving average is $10.52.

Stratasys (NASDAQ:SSYS - Get Free Report) last issued its earnings results on Wednesday, August 13th. The technology company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. Stratasys had a negative net margin of 19.02% and a negative return on equity of 1.86%. The firm had revenue of $138.09 million for the quarter, compared to analysts' expectations of $137.15 million. During the same quarter last year, the business earned ($0.04) earnings per share. The business's revenue was up .1% on a year-over-year basis. As a group, equities analysts predict that Stratasys will post -0.4 EPS for the current fiscal year.

Institutional Trading of Stratasys

Several institutional investors and hedge funds have recently made changes to their positions in SSYS. OMERS ADMINISTRATION Corp raised its holdings in Stratasys by 9.4% in the second quarter. OMERS ADMINISTRATION Corp now owns 28,000 shares of the technology company's stock worth $321,000 after purchasing an additional 2,400 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Stratasys by 17.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 78,902 shares of the technology company's stock worth $905,000 after purchasing an additional 11,808 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Stratasys by 41.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 332,395 shares of the technology company's stock worth $3,813,000 after purchasing an additional 96,731 shares in the last quarter. Magnetar Financial LLC purchased a new stake in Stratasys in the 2nd quarter worth approximately $3,234,000. Finally, TSP Capital Management Group LLC boosted its position in Stratasys by 0.6% in the 2nd quarter. TSP Capital Management Group LLC now owns 920,900 shares of the technology company's stock worth $10,563,000 after purchasing an additional 5,500 shares in the last quarter. 75.77% of the stock is currently owned by institutional investors.

Stratasys Company Profile

Stratasys Ltd. provides connected polymer-based 3D printing solutions. It offers range of 3D printing systems, which includes polyjet printer, Fused Deposition Modeling (FDM) printers, stereolithography printing systems, origin P3 printers, and selective absorption fusion printer for additive manufacturing, and tooling and rapid prototyping for various vertical markets, such as automotive, aerospace, consumer products and healthcare.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.